Wool market update - 6 October

The latest on the Australian wool market Season 24 Week 14 direct from the Elders wool team.

After two weeks of losses, the Australian wool market has recorded a small overall rise in this series, although results were varied across the different sectors and regions. 

Finer merino fleece types struggled to attract the same level of buyer attention received in the previous series, the result was losses across the board nationally for wool 19.5 micron and finer. 

The Micron Price Guides (MPGs) for 19.5 micron and finer across the three centres reduced by between 1 and 44 cents. The medium to broad microns (20.5 micron and coarser) still received strong support, with widespread competition and spirited bidding helping to push prices higher. This was highlighted in the 21.0 micron MPGs in Melbourne and Fremantle which both rose by 15 cents.  

The crossbred sector was by far the strongest performer of the week, strong buyer demand helped to push prices higher across the board. The standouts were in Melbourne, where the 28 micron MPG gained 30 cents (+8.1 per cent) and the 30 micron MPG also gained 30 cents (+8.5 per cent). 

The gains recorded in this sector combined with the gains in the broad merino fleece types, were the main reason for the overall increase in the market. 

The AWEX Eastern Market Indicator (EMI) added 3 cents for the week, closing at 1,138 cents. Due to minimal currency movement the EMI also rose in USD terms, the EMI added 2 US cents for the series, closing at 725 US cents. 

Despite the national offering being higher than the same time last year (2.1per cent higher) the total dollar amount of wool sold is well below the corresponding sale of the previous season. 

There has been 559 million dollars worth of wool sold so far this season, this is 40 million dollars less than the previous season. 

Next week returns to the normal Tuesday/Wednesday selling pattern. 42,266 bales are currently expected to be offered nationally.


Table showing wool prices for Week 14 Season 24
Graph showing Eastern Market Indicator (EMI)

For full details of auction sales, download the reports below.

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